Newbury Racecourse unveils £20m refurbishment plans

New entrances and improvements to main stands proposed

NEWBURY Racecourse has unveiled plans for a £20m refurbishment – £8m more than it had originally intended to spend.

As part of the first phase of redevelopment, two new entrances are proposed, while the existing parade ring would be expanded to provide a new winners’ enclosure.

A new pre-parade ring is also planned to be built, while landscaping will take place around the main stands.

Work on the first phase is expected to start in January 2016 and cost £13.5m.

The second phase, which will cost in the region of £6.5m, will see the Berkshire Stand and Pall Mall Stand refurbished.

The plans form part of the major ongoing development next to the course which will see 1,500 new homes built.

Work on the second phase is not expected to start until after 2018, when the returns from the residential developments will be clearer.

The racecourse says it wants to refresh key facilities to reinforce the company’s position as one of the UK’s leading racecourse and events venues.

The plans are more extensive than the those previously set out in the circular to shareholders dated in October 2012, then estimated to cost £12m.

Newbury Racecourse confirmed that outline planning permission for a 120-bedroom four-star hotel remains in place from the originally approved application in 2010, but said there are no immediate plans to start work on this part of the project.